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I dont think they can be much more aggressive unless they do an off market offer for shares because they'll be constrained by rules around trading volume etc.
Under the TSX rules, the total number of common shares PetroTal is permitted to purchase on the TSX is subject to a daily purchase limit of 190,542 common shares (representing 25% of the average daily trading volume of 762,168 common shares on the TSX, calculated from the initial date of listing on the TSX, being February 16, 2023 to the calender month ended April 30, 2023); provided that PetroTal may make one block purchase per calendar week that exceeds such limits.
Yes my suspicion was that they are near the end of the current 1 year programme of buybacks and will ramp it back up once it is renewed with Stifel. Perhaps something that will also be communicated in last week of Apr RNS for Q1 results if not by mid May.
Buy back program finishes May 17th.
https://www.lse.co.uk/rns/PTAL/commencement-of-share-buyback-dividend-timetable-yy52tqkgfblcvwy.html
So PTAL should have announcement about what happens next at next update.
He's still waiting for the SP to go to 40p so he can buy back in. Going to be along wait IMO.
Yes its just to annoy Bob.
What's the purpose behind these daily 17,000 buybacks. Is it just to annoy Bananabob.
BBB stop panicking. it will all come right in the end...
Decided to make my second investment in darkest Peru (that's a Paddington Bear reference). Cash balances. Undemanding PE & EV:EBITDA multiples. Decent dividends. Modest share buybacks. Increased sales in Q1 2024. 5x top-line growth 2020-2023. But you know all this already.
And there you have it - after months of buy backs - the total number of shares still way above 900 million - buy backs are about as much use as a wax frying pan in a kitchen.
Latest ceasefire negotiations have not yielded any results. Hence Brent back over $90 after a short dip to $89.
I can sell at 46.95 and buy for 46.94. Someone's keen.
Agree that more buy backs would be good, if they are allowed by TSX. Think they have struggled getting much recently without impacting liquidity.
Also I'm happy with the share price as it is because I'm still hoping to buy more (cash permitting) before this establishes a range over 50p. The update in a few weeks maybe the catalyst.
Not that heavy tbf. And another batch of warrents/more dilution isn't really helping.
At least (at last) the number of warrants & PSU's outstanding is tolerable now.
I wouldn't mind a bit stronger number of buybacks for a quarter.
Heavy buying last 3 sessions and price hardly moving.... dont get it
Looks like a few people using their ISA allowance late on.. just worked out at 20,000 bopd at $90 oil is a nett of $38 pb. thats 275,000,000 dollars free cash flow this year
That would be fiction. No chance that a Chinese company would invest in #PTAL without management notifying the market.
Re. LotX: It's in NW of Peru, so the "old" benefits of pursuing lighter oil fields in the Amazonas to reduce diluent costs (ONP, and heavy oil of Bretana) don't apply to that field. IMO it's not on Manolo's bucket list.
I'm not sure what future CNPC has in Peru. They operate Lot X, but the license is due to expire in May, with the bidding round supposedly ongoing with the winner announced on 8th April (that's Monday) :
Https://www.upstreamonline.com/production/new-operator-on-menu-for-one-of-peru-s-largest-fields/2-1-1605914
That was in Feb though, and this article says bugger all interest in Lot X:
https://gestion.pe/economia/nadie-pugna-por-lote-x-y-perupetro-amplia-plazo-hasta-hoy-para-recibir-interesados-noticia
Manalo said he was interested ( webcast with analysts) in picking up one of these mature fields, but don't think it was Lot X? I think there's 5 or 6 fields in need of modern methods and looking for new operators.
I think WF got the Chinese bid thing from this Canadian board;
https://ceo.ca/tal
All just speculation as far as I can see, happy to be shown otherwise..
I know nothing more other than a post on Stockhouse Bullboards under TAL.......could be bull.
Dont know about an approach or not I do know this.
2024 funds flow forecast to reach $160 million and free funds flow (after capex but prior to net working capital cash adjustments) of $25 million using the December 14, 2023 Brent oil strip ($77/bbl flat in 2024) with an estimated incremental $10 million of free funds flow for every $3/bbl change in Brent oil price; that's a possible $40 million more..
Do you have link to that? Haven’t heard of that anywhere.
Brent just breached $90. I think it’s flying a bit too high as CB’s will look to prices of fuel etc when deciding rate cuts :/ would be happy with it hovering at $85
It appears that discussions are underway regarding a potential acquisition or investment by a Chinese company in Petrotal. Such deals could indeed have a significant impact on the company's operations and its future development. Stay tuned for further developments as these discussions progress.
I love your charming wit spongeBob. Brightens up a wet Friday.
You should be buying the lambos with the GTE profits. What are you doing here!?